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Edmond de Rothschild (Monaco)

The Edmond de Rothschild Group is a family owned banking business with over 250 years of experience. The Rothschild Investment House is focused on private banking and asset management, and currently has 33 foreign offices.

There is an office in Monaco that specializes in private clients and investments.

OPEN ACCOUNT IN EDMOND DE ROTHSCHILD BANK MONACO

Account types

Investment, personal, corporate, incl. for offshore and other low tax jurisdictions.

The bank does not open operational accounts.

Account opening cost (bank tariff)

The account is opened free of charge.

 

The minimum account balance - 1 000 000 EUR.

This amount must be paid as soon as possible after opening an account.

 

The bank expects that 3 000 000 EUR will be placed within a year or two. After formation, the remainder must be invested in the bank's products, by agreement, a part can be left for the needs of the company or the personal needs of an individual.

 

Closing an account - 250 EUR.

Representative offices

The Edmond de Rothschild Group has a large number of offices around the world.

Account management

Provide all private banking services.

Service rates

Account maintenance (charged 2 times a year: in June and December):

- for individuals - 500 EUR/six months;

- for legal entities - 1500 EUR /six months.

 

Incoming transfers are free.

 

Outgoing transfers:

- to Monaco/France - 15 EUR + correspondence fee;

- abroad - 25 EUR + correspondence fee.

 

For more information on tariffs, see the link.

Terms of opening an account

The process of opening an account consists of a preparatory stage and the stage of opening an account itself.

The preparatory stage includes the collection of documents required to open an account. Campio Group carries out preliminary analysis of company documents.

The process of considering documents by the bank and making a decision to open an account takes about 2 months from the date of submission of all the necessary documents to the head office of the bank.

Edmond de Rothschild adheres to the “know your client” principle and may require additional information or documents from the client, which will lead to an increase in the time required to open an account. In addition, the bank may refuse to open an account without giving a reason.

Staff

Working languages: English, French, German, Russian, etc.

Credit/Debit Cards

Visa.

Other banking products

Asset management, insurance, safes, family management.

Account opening documents

Company documents - originals of all statutory documents are required. In addition, you will need:

- Certificate of Good Standing, not older than 3 months;

- Certificate of Incumbency under apostille, not older than 3 months;

- power of attorney and/or Declaration of Trust;

- a copy of the last minutes of the Resolution of the Board of Directors;

- a letter of intent to open a corporate bank account, indicating the designated persons who have the "right to sign" on the account;

- a copy of the annual consolidated financial statements of the company (if the company is part of a group of companies).

 

Documents for the account holder:

- copy of national passport;

- copy of foreign passport;

- curriculum vitae;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence).

 

Documents for the beneficiary:

- copy of national passport;

- copy of foreign passport;

- curriculum vitae;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence);

- documents confirming the source of income (welfare) of the beneficiary. It can be:

a certificate from the place of work indicating salary and statement of personal account, where payroll is displayed;

tax returns;

documents confirming inheritance;

documents confirming money donation, as well as their availability on accounts;

documents confirming the  presence/sale of real estate/movable property;

if the beneficiary is the founder of the company - documents for the company, extracts from company accounts, tax returns, documents confirming the payment of dividends;

if the beneficiary is a private entrepreneur - extract from the register, tax returns on the entrepreneur, bank statements;

Certificate of deposit from the bank, as well as documents confirming the source of income;

other documents that show sources of income.

 

Documents for nominal director, shareholder and secretary (in case of using nominal service by company):

- set of documents affixed with apostille, which includes copies of: passport, utility bill no older than 3 months and power of attorney (if nominal director, shareholder and secretary are natural persons);

- set of statutory documents affixed with apostille, which includes Certificate of Incorporation, Memorandum, Article of Association, Minutes of the director designation (if director is legal entity). Also may require Certificate of Good Standing affixed with apostille, Certificate of Incumbency affixed with apostille and documents on this director, which includes set of documents affixed with apostille: copy of passport, utility bill no older than 3 months and power of attorney.

Account opening procedure

Account opening can take place remotely, but after opening it is necessary to organize a personal meeting of the client with the bank manager either at the bank's office or during the manager's visit to Ukraine.

For more detailed advice on the terms of opening accounts in Edmond de Rothschild (Monaco), please contact our office. We will answer all your questions and help you open an account in Edmond de Rothschild Monaco or one of more than 70 foreign banks to choose from.

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